UN Security Council removes sanctions on Iran's Bank Sepah

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Monday 18 Jan 2016 - 11:16 Makkah mean time-8-4-1437 UN Security Council (UN file photo) New York (IINA) – The UN Security Council announced Sunday that it has removed Iranian Bank Sepah and its international subsidiary from a sanctions list, following a UN report confirming that Iran has completed necessary preparatory steps to start the implementation of a plan of action aimed to resolve the nuclear issue, UN News Center reported. The report was submitted to the Security Council after the International Atomic Energy Agency (IAEA) inspectors on the ground verified that Iran has carried out all measures required under what is known as the Joint Comprehensive Plan of Action (JCPOA) to enable “Implementation Day” to occur. In July, Iran and six major powers reached the JCPOA through resolution 2231 (2015), entrusting the IAEA with verifying and monitoring Iran's commitments. Bank Sepah had been under a Council-mandated asset freeze since 2007 over an alleged role in Iran’s missile program. AB/IINA